Kathmandu, March 18: The share of total public debt in Nepal’s gross domestic product has reached 47.13 per cent.
By mid-March of the current fiscal year, the government’s public debt has climbed to Rs 28 trillion 78 billion, pushing up its share in GDP.
According to the Public Debt Management Office, total public debt stood at Rs 26 trillion 74 billion 4 million at the start of the fiscal year. It rose to Rs 28 trillion 78 billion 29 million by mid-March, accounting for 47.13 per cent of GDP.
As of mid-March, external debt makes up 53.16 per cent of total public debt, while domestic debt accounts for 46.84 per cent. In the first eight months of the fiscal year alone, the government has borrowed Rs 2 trillion 4 billion 24 million.
The government had set a target to mobilise Rs 5 trillion 95 billion in public debt for the current fiscal year. By mid-March, it had secured Rs 2 trillion 95 billion 19 million, which is 50.44 per cent of the annual target. Of this, progress in domestic borrowing stands at 67.31 per cent, while external borrowing lags at 24.31 per cent.
The budget had allocated Rs 411 billion for debt servicing this fiscal year. By mid-March, Rs 242 billion 26 million has been paid, amounting to 58.94 per cent of the annual allocation.
People’s News Monitoring Service
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